Financial markets plunged again on Tuesday as investors continued to worry about the spread of the coronavirus.
Yes, prepare for a pandemic.. as though it wasn’t already a pandemic
February 24, 2020
The stock market was down 3.12% when it opened on Monday.
Over the weekend there were major outbreaks of the coronavirus reported in South Korea, Italy and Iran.
The virus is spreading.
Six nations banned people crossing the border from Iran in an attempt to cut off the spread of the deadly virus.
There are at least 600 cases reported in South Korea.
February 24, 2020
Under the plan, Sanders plans to provide universal child care and pre-K, spending $1.5 trillion over a decade for the “free” program. All Americans would guaranteed child care through age 3 followed by free pre-kindergarten education.
“As president, we will guarantee free, universal childcare and pre-kindergarten to every child in America to help level the playing field, create new and good jobs, and enable parents to more easily balance the demands of work and home,” Sanders said in a statement.
Sanders says he would fund the program through his “tax on extreme wealth” over $32 million. His campaign claims that tax would bring in some $4.3 trillion over 10 years.
The socialist has a slew of “free” programs that cost trillions. He supports a single-payer “Medicare for All” system, wants to cancel all student debt and make public college free, and raise the minimum wage to $15 per hour. And Sanders advocates providing free breakfast, lunch and dinner to all students, regardless of income level.
“Exact cost projections on all of Sanders’ proposals aren’t available, in part because he hasn’t fully fleshed out some of the ideas he’s embraced (such as universal pre-K and child care),” CNN reported in January.
But a wide variety of estimates put the likely cost of the single-payer health care plan he has endorsed around $30 trillion or more over the next decade. Depending on the estimates used, including projections from his own campaign, the other elements of the Sanders agenda — ranging from his “Green New Deal” to the cancellation of all student debt to a guaranteed federal jobs program that has received almost no scrutiny — could cost about as much, or even more than, the single-payer plan. That would potentially bring his 10-year total for new spending to around $60 trillion, or more. …
“I think if the price tag for the Sanders agenda was [better] known … voters would blanch — even Democratic primary voters would blanch,” said Jim Kessler, executive vice president for policy at Third Way, a centrist Democratic group. “The truth of the matter is in primary elections both in 2016 and so far in this one, he’s allowed to skate. He gets graded on a curve. But if he were the nominee, the curve is over. The Republicans will spend a billion dollars picking apart every one of his plans.” …
The sheer size of Sanders’ spending agenda dwarfs the proposed tax increases he has offered to pay for it, economists across the ideological spectrum agree. Brian Riedl, a former Senate Republican budget aide who’s now a senior fellow at the conservative Manhattan Institute, has calculated that at most Sanders’ existing proposals to raise taxes on the wealthy, Wall Street and corporations would raise about $23 trillion over the next decade.
“There is nowhere near enough resources that you can credibly collect to pay for spending of this size [from the rich],” agrees MacGuineas. “When you are talking about a doubling in the size of the government, you are talking about significant tax increases on the middle class.”
In addition, Sanders supports a plan offered by Rep. Alexandria Ocasio-Cortez she has dubbed the “Green New Deal.” The cost for that program: $93 trillion.
After sliding to the lowest close in over a week on Friday over the spread of the deadly virus, US stocks rebounded slightly as the new trading week began, with the key Dow Jones Industrial Average index climbing over 200 points on Tuesday. However, the markets could still grossly underestimate the consequences of the outbreak and are just hinging on the Fed’s injections, says former Fed insider Danielle DiMartino Booth.
“The markets are woefully underestimating the important economic impact globally of what this [outbreak] means given that we started the year leaning on multinationals to charge out of the US earnings recession and leaning on Germany to come out of its own industrial recession. That’s not going to happen either,” she told RT’s Boom Bust.
Booth explained that the companies which were set to lead the US out of the earnings recession are highly dependent on revenues and profits from overseas. The coronavirus could easily impede this, but the markets may still “press towards all-time highs, because they’re saying this bad news is good enough that it’s going to actually cause [the] Fed’s liquidity injections to grow.”
If you go to Google News and type in the word “recession”, you will literally get dozens of articles from the last couple of days with “recession” in the headline. And of course it is true that there are signs of global economic trouble all around us, and I have been documenting them on my website all throughout 2019. So we don’t want to criticize the mainstream media when they actually decide to tell the truth, because a recession is definitely coming, but could it be possible that there is also a hidden political agenda at work? The economy is generally regarded to be one of the bright spots for President Trump, and political operatives on the left clearly understand that a major economic downturn now would spell almost certain doom for Trump’s chances of winning the 2020 election. And when mainstream reporters talk about the possibility of a recession as we approach the next election, many of them almost seem gleeful as they describe how it could hurt Trump politically. Ultimately, when things start to really get bad it is inevitable that the mainstream media will place the blame directly at the feet of Trump. It is easy to imagine a narrative along the lines of “Trump’s handling of the economy has plunged the nation into a recession” being relentlessly pounded into the heads of American voters over the next year. And if the end result is Trump being voted out of office, more than 90 percent of those that work for the big news companies will be just fine with that.
This week, we have seen an absolute explosion in the number of stories about the possibility of an imminent recession. The following are just a few of the stories I came across while doing research earlier today…
Of course many of these stories were sparked by a major event that we just witnessed on Wall Street. The following comes from Fox Business…
Yes, it is possible that the yield curve could be wrong this time, but I wouldn’t bet on it.
And the economic news that is coming in from all over the world just continues to confirm that conditions are deteriorating. On Thursday, we learned that U.S. manufacturing has slumped back into contraction territory, and earlier this week we got some really troubling news from Germany and China…
So it isn’t as if the mainstream media is being dishonest with us in this case. Global economic activity is most definitely slowing down, and many believe that things will get much worse during the second half of this year.
And a global economic slowdown would be terrible news for the Trump campaign, because their entire narrative depends on President Trump making the economy great again. A substantial percentage of American voters are convinced that since he is a billionaire, Trump must really understand the economy very well. And according to a CNN poll from earlier this year, the performance of the economy is one of the main reasons for his current level of support…
But if the U.S. economy plunges into a painful recession, the game completely changes.
For those on the left that would like to see Trump voted out in 2020, the timing of the next recession will be key. If the next recession doesn’t begin until the second half of 2020, there may not be enough economic pain before November to swing the election in the favor of the Democratic candidate. So what the left really needs is for a recession to begin during the second half of 2019 or the first half of 2020 so that Americans are really suffering by the time election day rolls around.
I know that is a very sick way to think, but these are the sorts of conversations that these people actually have. For example, on his own television show Bill Maher publicly stated that a recession would be “worth it” if Trump is voted out in 2020. As we approach the next election, many on the left will be so desperate to see Trump gone that they will be willing to pay just about any price to see that happen.
And to be honest, the U.S. economy is definitely way overdue for a major downturn, and so it is only prudent to get prepared for rough times ahead. At this point, even USA Today is providing us with “recession survival tips”…
That is actually really good advice.
Now is a time to cut costs, get out of debt and build up your emergency fund.
The coming year promises to be quite chaotic, and those that hate President Trump are likely to pull out all the stops in an all-out attempt to get him voted out in 2020.
She might make grandma jokes about “wiping” her server with a cloth, but as RT’s Igor Zhdanov notes, there are few people in the world so adept at deleting information, that is potentially of state importance, off a server that even the FBI had no clue about.
And she would have managed to keep multi-million-dollar-earning Wall Street speeches a secret from the world, if it were not for the dastardly Wikileaks. So, there is a cautionary tale she can tell there.
And for the encore Clinton could explain how she cracked the Kremlin’s plan to meddle in the 2016 election and swing the result to Donald Trump, and then infiltrated the media to present her as a somewhat sore loser.
by Bob Price
On Friday, officials in the Rio Grande Valley Border Patrol Sector began flying migrants from McAllen, Texas, to Del Rio, Texas, the Washington Post reported. The flights are operated by U.S. Immigration and Customs Enforcement (ICE) but the migrants remain in the custody of Border Patrol.
The Post reported that the flights are aimed at moving single adults and family units from South Texas detention facilities as authorities prepare for even-larger numbers of family units and unaccompanied minors. These types of flights are highly unusual for Border Patrol, the newspaper reported. The agency resorted to utilizing flights which carry up to 135 souls because all buses are being utilized to transport migrants from the border to the initial processing centers. The flights are said to cost taxpayers about $16,000 each or about $120 per migrant.
San Angelo Live reported that migrants are being flown to Laughlin Air Force Base near Del Rio. Border Patrol officials then utilize buses to move the migrants to the Border Patrol station. Border Patrol officials stress these are “non-criminal alien family units.”
After processing, the Del Rio Sector will likely release family units with no criminal history or illnesses into local communities.
ICE officials are also screening family units in the Del Rio Sector for false or fraudulent family claims, Acting ICE Director Matthew T. Albence told Breitbart News in an interviewlast week.
“We have been working these cases from an investigative standpoint for quite a while,” Director Albence told Breitbart News. “What we’re doing now that is a little different is surging the additional resources to the ports of entry and Border Patrol stations where these individuals are being arrested and being processed. We’ve got teams in seven different locations who are conducting interviews of people who appear to be fraudulent families or where we have concerns that they are not who they say they are.”
“The results have been staggering thus far,” the director stated. “In just a couple of weeks, we’ve interviewed 256 family units and identified 65 fraudulent families. Almost three out of every ten families we’ve interviewed have become fraudulent.”
In an effort to more quickly determine the instances of false familial claims, federal officials are about to deploy a “rapid DNA” testing program in two locations. He said this specific type of DNA testing will return a result in 90 minutes that can identify a parent-child relationship.
Albence said the Rapid DNA testing will being this week. “We hope to have some results next week.”
FEBRUARY 25, 2019
While addressing Jesse Jackson’s Rainbow PUSH Wall Street Project, Waters praised Jackson, and warned there’s a new financial sheriff in town.
“I want this day to go down in honor of Rev. Jesse Jackson,” Waters told attendees, “in ways that is described as this is a new day.
“This is a new day and we’re not simply begging, we’re not simply pleading. A black woman has the gavel now,” she said as the crowd cheered wildly.
“And I’ve lived too long, experienced too much, struggled too hard not to use it. They will hear the sound of my gavel all over the world!” she said.
ust days before the Midterm elections, Waters warned she would use her committee power for paybacks.
“We have an election November 6th,” Waters said. “This is big. This may be the most important one that you’ve ever had to experience.
“This is the midterm election and often times people only vote in the presidential election because they don’t think this is important enough. But this is absolutely important,” she lectured.
“First of all, if we take back the House, most of the members of the Congressional Black Caucus will be chairs of the committees of the Congress of the United States of America,” Waters said, waving her fingers as the audience applauded.
“I will be the first African-American, the first woman to chair the powerful Financial Services Committee.
“That’s all of Wall Street. That’s all the insurance companies, that’s all the banks. And so, of course, the CEOs of the banks now are saying, ‘What can we do to stop Maxine Waters because if she gets in she’s going to give us a bad time?’” she said.
“I have not forgotten you foreclosed on our houses,” she warned.
“I have not forgotten that you undermined our communities,” she continued with the tone of a preacher.
“I have not forgotten that you sold us those exotic products, had us sign on the dotted line for junk,” she yelled, “and for mess that we could not afford.”
“I have people who are homeless who have never gotten back into a home. What am I going to do to you?
“What I am going to do to you is fair. I’m going to do to you what you did to us,” she vowed.